Abstract: Financial innovations can be regarded as the cause
and the effect of the evolution of the financial system. Most of
financial innovations are created by various financial institutions for
their own purposes and needs. However, due to their diversity,
financial innovations can be also applied by various business entities
(other than financial institutions).
This paper focuses on the potential application of financial
innovations by non-financial companies. It is assumed that financial
innovations may be effectively applied in all fields of corporate
financial decisions integrating financial management with the risk
management process. Appropriate application of financial
innovations may enhance the development of the company and
increase its value by improving its financial situation and reducing
the level of risk. On the other hand, misused financial innovations
may become the source of extra risk for the company threatening its
further operation.
The main objective of the paper is to identify the major types of
financial innovations offered to non-financial companies by the
banking system in Poland. It also aims at identifying the main factors
determining the creation of financial innovations in the banking
system in Poland and indicating future directions of their
development.
This paper consists of conceptual and empirical part. Conceptual
part based on theoretical study is focused on the determinants of the
process of financial innovations and their application by the nonfinancial
companies. Theoretical study is followed by the empirical
research based on the analysis of the actual offer of the 20 biggest
banks operating in Poland with regard to financial innovations
offered to SMEs and large corporations. These innovations are
classified according to the main functions of the integrated financial
management, such as financing, investment, working capital
management and risk management.
Empirical study has proved that the biggest banks operating in the
Polish market offer to their business customers many types and
classes of financial innovations. This offer appears vast and adequate
to the needs and purposes of the Polish non-financial companies. It
was observed that financial innovations pertained to financing
decisions dominate in the banks’ offer. However, due to high
diversification of the offered financial innovations, business
customers may effectively apply them in all fields and areas of
integrated financial management. It should be underlined, that the
banks’ offer is highly dispersed, which may limit the implementation
of financial innovations in the corporate finance. It would be also
recommended for the banks operating in the Polish market to
intensify the education campaign aiming at increasing knowledge
about financial innovations among business customers.
Abstract: Cadmium (II) (Cd) is one of the major toxic elemental
pollutants, which is hazardous for humans, animals and plants. γ-
Polyglutamic acid (γ-PGA) is an extracellular biopolymer produced
by several species of Bacillus which has been reported to be an
effective biosorbent for metal ions. The effect of γ-PGA on growth of
rice grown under laboratory conditions was investigated. Rice seeds
were germinated and then grown at 30±1°C on filter paper soaked
with Cd solution and γ-PGA for 7 days. The result showed that Cd
significantly inhibited the growth of roots, shoots by reducing root,
and shoot lengths. Fresh and dry weights also decreased compared
with control; however, the addition of 500 mg·L-1 γ-PGA alleviated
rice seedlings from the adverse effects of Cd. The analysis of
physiological traits revealed that Cd caused a decrease in the total
chlorophyll and soluble protein contents and amylase activities in all
treatments. The Cd content in seedling tissues increased for the Cd
250 μM treatment (P
Abstract: Land reallocation is one of the most important steps in
land consolidation projects. Many different models were proposed for
land reallocation in the literature such as Fuzzy Logic, block priority
based land reallocation and Spatial Decision Support Systems. A
model including four parts is considered for automatic block
reallocation with genetic algorithm method in land consolidation
projects. These stages are preparing data tables for a project land,
determining conditions and constraints of land reallocation, designing
command steps and logical flow chart of reallocation algorithm and
finally writing program codes of Genetic Algorithm respectively. In
this study, we designed the first three steps of the considered model
comprising four steps.
Abstract: In recent years, the use of the aluminum based alloys
in the industry and technology are increasing. Alloying elements in
aluminum have further been improving the strength and stiffness
properties that provide superior compared to other metals. In this
study, investigation of physical properties (microstructure,
microhardness, tensile strength, electrical conductivity and thermal
properties) in the Al-12.6wt.%Si-%2wt.Ni ternary alloy were
investigated. Al-Si-Ni alloy was prepared in vacuum atmosphere. The
samples were directionally solidified upwards with different growth
rate V (8.3−165.45 μm/s) at constant temperature gradient G (7.73
K/mm). The flake spacings (λ), microhardness (HV), ultimate tensile
strength (σ), electrical resistivity (ρ) and thermal properties (H, Cp,
Tm) of the samples were measured. Influence of the growth rate and
spacings on microhardness, ultimate tensile strength and electrical
resistivity were investigated and relationships between them were
obtained. According to results, λ values decrease with increasing V,
but HV, σ and ρ values increase with increasing V. Variations of
electrical resistivity (ρ) of solidified samples were also measured.
The enthalpy of fusion (H) and specific heat (Cp) for the alloy was
also determined by differential scanning calorimeter (DSC) from
heating trace during the transformation from liquid to solid. The
results in this work were compared with the previous similar
experimental results.
Abstract: The paper presents an advanced control system for
tennis ball throwing machines to improve their accuracy according to
the ball impact points. A further advantage of the system is the much
easier calibration process involving the intelligent solution of the
automatic adjustment of the stroking parameters according to the ball
elasticity, the self-calibration, the use of the safety margin at very flat
strokes and the possibility to placing the machine to any position of
the half court. The system applies mathematical methods to
determine the exact ball trajectories and special approximating
processes to access all points on the aimed half court.
Abstract: In this article, a method is presented to effectively
estimate the deformed shape of a thick plate due to line heating. The
method uses a fifth order spline interpolation, with up to C3
continuity at specific points to compute the shape of the deformed
geometry. First and second order derivatives over a surface are the
resulting parameters of a given heating line on a plate. These
parameters are determined through experiments and/or finite element
simulations. Very accurate kriging models are fitted to real or virtual
surfaces to build-up a database of maps. Maps of first and second
order derivatives are then applied on numerical plate models to
evaluate their evolving shapes through a sequence of heating lines.
Adding an optimization process to this approach would allow
determining the trajectories of heating lines needed to shape complex
geometries, such as Francis turbine blades.
Abstract: The right to basic sanitation, was elevated to the
category of fundamental right by the Constitution of 1988 to protect
the ecologically balanced environment, ensuring social rights to
health and adequate housing and put the dignity of the human person
as the foundation of the Brazilian Democratic State. Before their
essentiality to humans, this article seeks to understand why universal
access to basic sanitation is a goal so difficult to achieve in Brazil.
Therefore, this research uses the deductive and analytical method.
Given the nature of the research literature, research techniques were
centered in specialized books on the subject, journals, theses and
dissertations, laws, relevant law case and raising social indicators
relating to the theme. The relevance of the topic stems, among other
things, the fact that sanitation services are essential for a dignified
life, i.e., everyone is entitled to the maintenance of the necessary
existence conditions are satisfied. However, the effectiveness of this
right is undermined in society, since Brazil has huge deficit in
sanitation services, denying thus a worthy life to most of the
population. Thus, it can be seen that the provision of water and
sewage services in Brazil is still characterized by a large imbalance,
since the municipalities with lower population index have greater
disability in the sanitation service. The truth is that the precariousness
of water and sewage services in Brazil is still very concentrated in the
North and Northeast regions, limiting the effective implementation of
the Law 11.445/2007 in the country. Therefore, there is urgent need
for a positive service by the State in the provision of sanitation
services in order to prevent and control disease, improve quality of
life and productivity of individuals, besides preventing contamination
of water resources. More than just social and economic necessity,
there is a government duty to implement such services. In this sense,
given the current scenario, to achieve universal access to basic
sanitation imposes many hurdles. These are mainly in the field of
properly formulated and implemented public policies, i.e., it requires
an excellent institutional organization, management services,
strategic planning, social control, in order to provide answers to
complex challenges.
Abstract: In this work, the plastic behaviour of cold-rolled zinc
coated dual-phase steel sheets DP600 and DP800 grades is firstly
investigated with the help of uniaxial, hydraulic bulge and Forming
Limit Curve (FLC) tests. The uniaxial tensile tests were performed in
three angular orientations with respect to the rolling direction to
evaluate the strain-hardening and plastic anisotropy. True stressstrain
curves at large strains were determined from hydraulic bulge
testing and fitted to a work-hardening equation. The limit strains are
defined at both localized necking and fracture conditions according to
Nakajima’s hemispherical punch procedure. Also, an elasto-plastic
localization model is proposed in order to predict strain and stress
based forming limit curves. The investigated dual-phase sheets
showed a good formability in the biaxial stretching and drawing FLC
regions. For both DP600 and DP800 sheets, the corresponding
numerical predictions overestimated and underestimated the
experimental limit strains in the biaxial stretching and drawing FLC
regions, respectively. This can be attributed to the restricted failure
necking condition adopted in the numerical model, which is not
suitable to describe the tensile and shear fracture mechanisms in
advanced high strength steels under equibiaxial and biaxial stretching
conditions.
Abstract: Below-knee amputees commonly experience
asymmetrical gait patterns. It is generally believed that ischemia is
related to the formation of pressure sores due to uneven distribution
of forces. Micro-vascular responses can reveal local malnutrition.
Changes in local skin blood supply under various external loading
conditions have been studied for a number of years. Radionuclide
clearance, photo-plethysmography, trans-cutaneous oxygen tension
along with other studies showed that the blood supply would be
influenced by the epidermal forces, and the rate and the amount of
blood supply would decrease with increased epidermal loads being
shear forces or normal forces. Several cases of socket designs were
investigated using Finite Element Model (FEM) and Design of
Experiment (DOE) to increase flexibility and minimize the pressure
at the limb/socket interface using ultra high molecular weight
polyethylene (UHMWPE) and polyamide 6 (PA6) or Duraform. The
pressure reliefs at designated areas where reducing thickness is
involved are seen to be critical in determination of amputees’ comfort
and are very important to clinical applications. Implementing a hole
between the Patellar Tendon (PT) and Distal Tibia (DT) would
decrease stiffness and increase prosthesis range of motion where
flexibility is needed. In addition, displacement and prosthetic energy
storage increased without compromising mechanical efficiency and
prosthetic design integrity.
Abstract: This work is on decision tree-based classification for
the disbursement of scholarship. Tree-based data mining
classification technique is used in other to determine the generic rule
to be used to disburse the scholarship. The system based on the
defined rules from the tree is able to determine the class (status) to
which an applicant shall belong whether Granted or Not Granted. The
applicants that fall to the class of granted denote a successful
acquirement of scholarship while those in not granted class are
unsuccessful in the scheme. An algorithm that can be used to classify
the applicants based on the rules from tree-based classification was
also developed. The tree-based classification is adopted because of its
efficiency, effectiveness, and easy to comprehend features. The
system was tested with the data of National Information Technology
Development Agency (NITDA) Abuja, a Parastatal of Federal
Ministry of Communication Technology that is mandated to develop
and regulate information technology in Nigeria. The system was
found working according to the specification. It is therefore
recommended for all scholarship disbursement organizations.
Abstract: Batch production plants provide a wide range of
scheduling problems. In pharmaceutical industries a batch process
is usually described by a recipe, consisting of an ordering of tasks
to produce the desired product. In this research work we focused
on pharmaceutical production processes requiring the culture of
a microorganism population (i.e. bacteria, yeasts or antibiotics).
Several sources of uncertainty may influence the yield of the culture
processes, including (i) low performance and quality of the cultured
microorganism population or (ii) microbial contamination. For
these reasons, robustness is a valuable property for the considered
application context. In particular, a robust schedule will not collapse
immediately when a cell of microorganisms has to be thrown away
due to a microbial contamination. Indeed, a robust schedule should
change locally in small proportions and the overall performance
measure (i.e. makespan, lateness) should change a little if at all.
In this research work we formulated a constraint programming
optimization (COP) model for the robust planning of antibiotics
production. We developed a discrete-time model with a multi-criteria
objective, ordering the different criteria and performing a
lexicographic optimization. A feasible solution of the proposed
COP model is a schedule of a given set of tasks onto available
resources. The schedule has to satisfy tasks precedence constraints,
resource capacity constraints and time constraints. In particular
time constraints model tasks duedates and resource availability
time windows constraints. To improve the schedule robustness, we
modeled the concept of (a, b) super-solutions, where (a, b) are input
parameters of the COP model. An (a, b) super-solution is one in
which if a variables (i.e. the completion times of a culture tasks)
lose their values (i.e. cultures are contaminated), the solution can be
repaired by assigning these variables values with a new values (i.e.
the completion times of a backup culture tasks) and at most b other
variables (i.e. delaying the completion of at most b other tasks).
The efficiency and applicability of the proposed model is
demonstrated by solving instances taken from a real-life
pharmaceutical company. Computational results showed that
the determined super-solutions are near-optimal.
Abstract: The nickel-manganese (Ni-Mn) alloy coating prepared
from DC electrodeposition process in sulphamate bath was studied.
The effects of process parameters, such as current density and
electrolyte composition, on the cathodic current efficiency,
microstructure, internal stress and mechanical properties were
investigated. Because of its crucial effect on the application to the
electroforming of microelectronic components, the development of
low internal stress coating with high leveling power was emphasized.
It was found that both the coating’s manganese content and the
cathodic current efficiency increased with the raise in current density.
In addition, the internal stress of the deposited coating showed
compressive nature at low current densities while changed to tensile
one at higher current densities. Moreover, the metallographic
observation, X-ray diffraction measurement, and polarization curve
measurement were conducted. It was found that the Ni-Mn coating
consisted of nano-sized columnar grains and the maximum hardness of
the coating was associated with (111) preferred orientation in the
microstructure. The grain size was refined along with the increase in
the manganese content of the coating, which accordingly, raised its
hardness and resistance to annealing softening. In summary, the
Ni-Mn coating prepared at lower current density of 1-2 A/dm2 had low
internal stress, high leveling power, and better corrosion resistance.
Abstract: The aim of this work was to characterize a potential
target group of people interested in participating into a training
program in organic farming in the context of mobile-learning. The
information sought addressed in particular, but not exclusively,
possible contents, formats and forms of evaluation that will
contribute to define the course objectives and curriculum, as well as
to ensure that the course meets the needs of the learners and their
preferences. The sample was selected among different European
countries. The questionnaires were delivered electronically for
answering on-line and in the end 135 consented valid questionnaires
were obtained. The results allowed characterizing the target group
and identifying their training needs and preferences towards m-learning
formats, giving valuable tools to design the training offer.
Abstract: The global demand for long-tailed macaques for
medical experimentation has continued to increase. Fulfillment of
Indonesian export demands has been mostly from natural habitats,
based on a harvesting quota. This quota has been determined
according to the total catch for a given year, and not based on
consideration of any demographic parameters or physical
environmental factors with regard to the animal; hence threatening
the sustainability of the various populations. It is therefore necessary
to formulate a method for calculating a sustainable harvesting quota,
based on population parameters in natural habitats. Considering the
possibility of variations in habitat characteristics and population
parameters, a time series observation of demographic and
physical/biotic parameters, in various habitats, was performed on 13
groups of long-tailed macaques, distributed throughout the West
Java, Lampung and Yogyakarta areas of Indonesia. These provinces
were selected for comparison of the influence of human/tourism
activities. Data on population parameters that was collected included
data on life expectancy according to age class, numbers of
individuals by sex and age class, and ‘ratio of infants to reproductive
females’. The estimation of population growth was based on a
population dynamic growth model: the Leslie matrix. The harvesting
quota was calculated as being the difference between the actual
population size and the MVP (minimum viable population) for each
sex and age class. Observation indicated that there were variations within group size
(24–106 individuals), gender (sex) ratio (1:1 to 1:1.3), life expectancy
value (0.30 to 0.93), and ‘ratio of infants to reproductive females’
(0.23 to 1.56). Results of subsequent calculations showed that
sustainable harvesting quotas for each studied group of long-tailed
macaques, ranged from 29 to 110 individuals. An estimation model
of the MVP for each age class was formulated as Log Y = 0.315 +
0.884 Log Ni (number of individual on ith age class). This study also
found that life expectancy for the juvenile age class was affected by
the humidity under tree stands, and dietary plants’ density at sapling,
pole and tree stages (equation: Y=2.296 – 1.535 RH + 0.002 Kpcg –
0.002 Ktg – 0.001 Kphn, R2 = 89.6% with a significance value of
0.001). By contrast, for the sub-adult-adult age class, life expectancy
was significantly affected by slope (equation: Y=0.377 = 0.012 Kml,
R2 = 50.4%, with significance level of 0.007). The infant-toreproductive-
female ratio was affected by humidity under tree stands,
and dietary plant density at sapling and pole stages (equation: Y = -
1.432 + 2.172 RH – 0.004 Kpcg + 0.003 Ktg, R2 = 82.0% with
significance level of 0.001). This research confirmed the importance
of population parameters in determining the minimum viable
population, and that MVP varied according to habitat characteristics
(especially food availability). It would be difficult therefore, to
formulate a general mathematical equation model for determining a
harvesting quota for the species as a whole.
Abstract: Sewer deposits have been identified as a major cause
of dysfunctions in combined sewer systems regarding sewer
management, which induces different negative consequents resulting
in poor hydraulic conveyance, environmental damages as well as
worker’s health. In order to overcome the problematics of
sedimentation, flushing has been considered as the most operative
and cost-effective way to minimize the sediments impacts and
prevent such challenges. Flushing, by prompting turbulent wave
effects, can modify the bed form depending on the hydraulic
properties and geometrical characteristics of the conduit. So far, the
dynamics of the bed-load during high-flow events in combined sewer
systems as a complex environment is not well understood, mostly due
to lack of measuring devices capable to work in the “hostile” in
combined sewer system correctly. In this regards, a one-episode
flushing issue from an opening gate valve with weir function was
carried out in a trunk sewer in Paris to understand its cleansing
efficiency on the sediments (thickness: 0-30 cm). During more than
1h of flushing within 5 m distance in downstream of this flushing
device, a maximum flowrate and a maximum level of water have
been recorded at 5 m in downstream of the gate as 4.1 m3/s and 2.1
m respectively. This paper is aimed to evaluate the efficiency of this
type of gate for around 1.1 km (from the point -50 m to +1050 m in
downstream from the gate) by (i) determining bed grain-size
distribution and sediments evolution through the sewer channel, as
well as their organic matter content, and (ii) identifying sections that
exhibit more changes in their texture after the flush. For the first one,
two series of sampling were taken from the sewer length and then
analyzed in laboratory, one before flushing and second after, at same
points among the sewer channel. Hence, a non-intrusive sampling
instrument has undertaken to extract the sediments smaller than the
fine gravels. The comparison between sediments texture after the
flush operation and the initial state, revealed the most modified zones
by the flush effect, regarding the sewer invert slope and hydraulic
parameters in the zone up to 400 m from the gate. At this distance,
despite the increase of sediment grain-size rages, D50 (median grainsize)
varies between 0.6 mm and 1.1 mm compared to 0.8 mm and 10
mm before and after flushing, respectively. Overall, regarding the
sewer channel invert slope, results indicate that grains smaller than
sands (< 2 mm) are more transported to downstream along about 400
m from the gate: in average 69% before against 38% after the flush
with more dispersion of grain-sizes distributions. Furthermore, high
effect of the channel bed irregularities on the bed material evolution
has been observed after the flush.
Abstract: This study integrates a larger research empirical
project that examines second language (SL) learners’ profiles and
valid procedures to perform complete and diagnostic assessment in
schools. 102 learners of Portuguese as a SL aged 7 and 17 years
speakers of distinct home languages were assessed in several
linguistic tasks. In this article, we focused on writing performance in
the specific task of narrative essay composition. The written outputs
were measured using the score in six components adapted from an
English SL assessment context (Alberta Education): linguistic
vocabulary, grammar, syntax, strategy, socio-linguistic, and
discourse. The writing processes and strategies in Portuguese
language used by different immigrant students were analysed to
determine features and diversity of deficits on authentic texts
performed by SL writers. Differentiated performance was based on
the diversity of the following variables: grades, previous schooling,
home language, instruction in first language, and exposure to
Portuguese as Second Language. Indo-Aryan languages speakers
showed low writing scores compared to their peers and the type of
language and respective cognitive mapping (such as Mandarin and
Arabic) was the predictor, not linguistic distance. Home language
instruction should also be prominently considered in further research
to understand specificities of cognitive academic profile in a
Romance languages learning context. Additionally, this study also
examined the teachers’ representations that will be here addressed to
understand educational implications of second language teaching in
psychological distress of different minorities in schools of specific
host countries.
Abstract: Steel slag is a by-product of the steel industry and can
be used potentially as aggregate in the asphalt mixture. This study
evaluates the use of Steel Slag Aggregates (SSA) as a substitute for
natural aggregates in the production of hot mix asphalt (HMA) for
road construction. Based on intensive laboratory testing program, the
characteristic properties of SSA were assessed to determine its
suitability to be used in HMA. Four different percentages (0, 50, 75,
and 100%) of SSA were used, and the proposed mix designs for
HMA were conducted in accordance with Marshall mix design. The
experiment results revealed that the addition of SSA has a significant
improvement on the properties of HMA. An increase in density and
stability and a reduction in flow and air voids values were clearly
observed in specimens prepared with 100% SSA. It is concluded that
the steel slag can be considered reasonable alternative source of
aggregate for concrete asphalt mixture production.
Abstract: In order to obtain efficient pollutants removal in
small-scale wastewater treatment plants, uniform water flow has to be
achieved. The experimental setup, designed for treating high-load
wastewater (leachate), consists of two aerobic biological reactors and
a lamellar settler. Both biological tanks were aerated by using three
different types of aeration systems - perforated pipes, membrane air
diffusers and tube ceramic diffusers. The possibility of homogenizing
the water mass with each of the air diffusion systems was evaluated
comparatively. The oxygen concentration was determined by optical
sensors with data logging. The experimental data was analyzed
comparatively for all three different air dispersion systems aiming to
identify the oxygen concentration variation during different
operational conditions. The Oxygenation Capacity was calculated for
each of the three systems and used as performance and selection
parameter. The global mass transfer coefficients were also evaluated
as important tools in designing the aeration system. Even though
using the tubular porous diffusers leads to higher oxygen
concentration compared to the perforated pipe system (which
provides medium-sized bubbles in the aqueous solution), it doesn’t
achieve the threshold limit of 80% oxygen saturation in less than 30
minutes. The study has shown that the optimal solution for the
studied configuration was the radial air diffusers which ensure an
oxygen saturation of 80% in 20 minutes. An increment of the values
was identified when the air flow was increased.
Abstract: The present study applies the inverse method and
three-dimensional CFD commercial software in conjunction with the
experimental temperature data to investigate the heat transfer and fluid
flow characteristics of the plate-fin heat sink in a rectangular closed
enclosure. The inverse method with the finite difference method and
the experimental temperature data is applied to determine the
approximate heat transfer coefficient. Later, based on the obtained
results, the zero-equation turbulence model is used to obtain the heat
transfer and fluid flow characteristics between two fins. T0 validate
the accuracy of the results obtained, the comparison of the heat transfer
coefficient is made. The obtained temperature at selected
measurement locations of the fin is also compared with experimental
data. The effect of the height of the rectangular enclosure on the
obtained results is discussed.
Abstract: Determination of genetic variation is useful for plant
breeding and hence production of more efficient plant species under
different conditions, like drought stress. In this study a sample of 28
recombinant inbred lines (RILs) of wheat developed from the cross of
Norstar and Zagross varieties, together with their parents, were
evaluated for two years (2010-2012) under normal and water stress
conditions using split plot design with three replications. Main plots
included two irrigation treatments of 70 and 140 mm evaporation
from Class A pan and sub-plots consisted of 30 genotypes. The effect
of genotypes and interaction of genotypes with years and water
regimes were significant for all characters. Significant genotypic
effect implies the existence of genetic variation among the lines
under study. Heritability estimates were high for 1000 grain weight
(0.87). Biomass and grain yield showed the lowest heritability values
(0.42 and 0.50, respectively). Highest genotypic and phenotypic
coefficients of variation (GCV and PCV) belonged to harvest index.
Moderate genetic advance for most of the traits suggested the
feasibility of selection among the RILs under investigation. Some
RILs were higher yielding than either parent at both environments.